Read the following and answer the questions below. On 1 January 2011 the Happy Haddock Angling Club had the following assets:

During the year to 31 December 2011 the Club received and paid the following amounts:

The snack bar inventory on 31 December 2011 was £900. The games equipment should be depreciated by 20%.

(a) Prepare an income and expenditure account for the year ending 31 December 2011. Show, either in this account or separately, the snack bar profit or loss.

(b) Prepare a statement of financial position as at 31 December 2011.

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Cash at bank Snack bar inventory Club house buildings E 200 800 12,500